XRP Elliot Wave Long: From 39c to $4.20

This analysis shows that we are currently in wave 3 of 5 of the Macro wave 3 (of Hyperwave 3).

The Macro wave 3 should take us to about $2.16, as this lines up with the both the fib extension at the 2.0 fibonacci and the previous wave's extension at 8.236. However, this it may only reach as far as $1.91 or $2.56.

If $2.16 is reached as wave 5 of 3, we can expect a corrective wave (macro wave 4) down to between the 0.5 ($1.30) and 0.618 ($1.11) lines. Given that 1.30 is a support here, this is where I suspect we could retrace to.

For wave 5 of 5, if we end Macro wave 4 at $1.30 and bounce back off this support, a rise to the 1.618 fib extension at $4.20 is not out of the question. This would mark the end of the macro wave structure and we would likely see a decent retrace of the entire move, which may take us back down to $1.85 or perhaps $1.56. This would be the hyperwave 4 correction.

After that we have Hyperwave 5 which will take us even further. My guess is $13. See my Hyperwave Analysis for details on this (linked).